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Today's Stocks: U.S. Futures Steady as Wall Street Remains Cautious
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The start of the week was lackluster, and U.S. futures were flat before Tuesday's opening bell.
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As investors in the geopolitical tension in the situation to go up to the risk assets, the stock market fell on Monday.
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Bank of America and Morgan Stanley will announce their financial results later.
U.S. futures markets were little changed Tuesday morning after all three major stock indexes fell at the start of the week on Monday as investors worried about a conflict between Israel and Iran.
S&P 500 futures were trading flat before 5 a.m. EST. Nasdaq Resonance 100 futures were also flat, while Dow Jones Industrial Average futures were down 0.1%.
U.S. stocks suffered across the board on Monday. The Dow fell for the sixth straight session, dropping 248 points or 0.65%. The S&P 500 fell 1.2% and the NASDAQ Resonance Carbide Index fell below its 50-day moving average for the first time since November, losing 1.79%.
benchmark 10-Year Treasury YieldOvernight it remained near its highest level in five months. A combination of solid retail sales data and receding risks of an Israel-Iran conflict pushed Treasury yields up three basis points the day before.
The U.S. dollar index, a measure of the greenback's strength against six other currencies, rose 0.1% overnight, also matching Monday's solid gains.
On the other hand, the strong March retail sales data released on Monday showed that the U.S. economy is resilient, but also pushed down the possibility of the Fed to cut interest rates in June. September is considered the most likely time for the Fed to take action.
Traders will be watching a series of talks with key figures such as Fed Supervisor Jerome Powell and Deputy Supervisor Philip Jefferson for more clarity.
On Tuesday, the International Monetary Fund (IMF) will also release its latest World Economic Outlook, and the major banks releasing their quarterly earnings reports today include Bank of America and Morgan Stanley.
It is expected that the financial results of UnitedHealth and Johnson & Johnson will also be announced.
Read the original article on Business Insider